From Reuters, we have yet-another-sob-story (YASS) about an FB: Mortgage bloodbath?
Unlike many borrowers who took out subprime loans, Andy Sobel had good credit, a decent job and modest savings, but he needed to stretch to buy a home in the white-hot San Diego housing market in 2004.
Three years later, Sobel has lost his home and his savings, and he faces a big tax bill as a consequence of a failed subprime mortgage held by Countrywide Financial Corp. he says he should never have been written.
He should never have been written? What is this? Fantasy-land?!?
You signed the piece of paper, didn't you? Now, suck it up, big boy!
"You never think that this could happen to you. You feel like an idiot," said Sobel, 48, who has a doctorate in education. "You fall down and they stab you."
Looks like you're getting a real education right here.
Or in the immortal words of Ben Franklin, "Experience keeps a dear school, but fools will learn in no other."
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